Omaha daily bee., 1887-06-12
WEEKLY BUSINESS REVIEW.
An Active Demand For Money BY speou-
lators in Grain and Provisions,
CONSERVATIVE POLICY PURSUED
A Nervous ana Unsettled Feeling Ex-
istipg iu Produce eCircies-Pack-
ing Progressing Favora-
bly, in tho West.
In the Commercial World.

In the Commercial World.
CHICAGO, June 11.-TSpecial Telegram to
the BEE. NO very important features de-
veoped in financial circles during the week
just closed. From some quarters bankers
were pressed for loans, but in most cases a
conservative course was pursued, and the
favors were distributed to various depart
ments of trade. The demand for money on
behalf of spectators in grain and provis-
ions was quite active, though not as urgent
as during the week previous, and while all
the paper presented was not readily accepted,
borrowers succeeded In obtaining some
favors, sufficient to avoid any Inconvenience.
Considerable money was forwarded to grain
and livestock districts, but was mainly dis
tributed through commission houses. In
some instances round blocks were forwarded
to the northwest to pay tor wheat to be for
warded to Chicago. Some money was also
sent to sections to pay employees engaged on
public improvements, railway building, etc.
ers, but their demands were
not pressing. Manufacturers were
borrowing very sparlngly and all parties con-
nected with the building interest are out of
the market owing to the unsettled condition
sale merchants require very little assistance
at the present time as their business is mod
erately active and their interior collections
quite good. Rates of interest are well sup
ported at car per cent, for call andG}4QgG per
cent. for time loans. Very little money was
loaned under 7per cent, especially on spec
ulative paper, md bankers in most cases re-
quired wide :marglns. Money in eastern
financial centers appears very easy and rates
OF interest little more favorable TO borrow
ers. Advces from foreign markets indicate
and Interest rates very low. New York eX-
change has been In very good supply through
out the week and the demand was only fair:
The market was inclined to. dullness and
at par, but within the past two or
three days sales between banks were made at
40 @6O cents discount per II 900. Toward the
made at par. Foreign % exchange as Showed
some weakness during the week owing to
the increased offerings of shippers sixty days
documentary bills, drawn against increased
fEhRmsas EaRg sas, OF wse srsn made Ssin % aaS p
a reduction was submitted to later and bills
changed hands at S4S3(14.S3A and closed
quiet. The New York market was only
Iesans rsSad soess met s WITH pas ten
tion, as reports of earnings continue quite
favorable. Wall street operators traded with
some freedom and outside parties engaged In
pspx ate Trans Gss ruled hn nhe1
the past two or three days, and prices have
declined somewhat Foreign operators have
been moderately free sellers at the recent
say'aSs l s wssk sss on ss w Sk sps
Business on the Chicago board of trade
stock exchange was fairly active
during the week, not as large, quite, as an
whch be attributed to the in
There was considerable trading in the shares
OF leading RAILROADS.&C.. Paul, Northwest,
Reading, and Union Pacific--the former be-
acted in local bonds and securities. A ner-
vous AID unsettled feeling existed in
produce circles during the greater portion of
the week. The prices of leading articles
comparatively narrow range. Spectators
have watched the course of events very
closely, and, as a rule, while not trading in
near deliveries to any extent outside of sett-
deferred deliveries considerable attention,
The grain blockade and light offerings Of
to considerable extent, Trade during
have suffered somewhat from want
of proper facilities to receive and forward
their property. Receipts OF grain In all lead
ing western markets have been free and the
export movement well maintained. Prices
have been well supported in wheat, seeds
and provisions, but for other articles they in
elined in favor of the buying interests.
while supplies OF provisions are being scat.
tered to some extent through consuming dis
tricts, all quite large for this season Of the
year. The arrivals OF live stock are moder-
stsy large a,s at all the principal western mar
packing Of the west Is progressing favorably
and is still considerably in excess Of returns
last season to date. In wheat the feeling de-
sry dfany FOR yuns tas
havo been rapid and severe and higher
range Of prices has been established, but not
fully sustained. while new crop, futures, all
asSspd lsa S asss %sak sSaa aa "sEseso soes ea
terially lower Outside influences have not
favored the "bulP side, in fac. were strongly
tempered in favor of short sellers,
hence the June
ferred futures and the July future was affected
to some extent by the same, but as 'short'
sellers became more confident IN their calcu-
interest has centered In June delivery, and
the storage question has proved to be one of
the principal factors on the market. The re-
ha N om all
1t Is next to impossible to provide storage
room for all that is coming. More wheat
would undoubtedly come forward could ship
pers be guaranteed storage room. AS much
rs &c and &c per bushel premium, 1t is claimed,
has been paid by parties holding wheat out
side to obtain storage room here. Corn and
oats have both been taken out of the elevators
to make storage room for wheat. and during
the week something like 100000 bushels of
wheat were taken out, which helped to lessen
the pressure for storage room, at least tenn
porarily. Two more elevators were made
'relular" during the week, which increased
the storage capacity by 1000, 900 bushels. The
receipts during the week have not been far
from 200, 900 bushels and the stock in store
has increased probably close TO 900 BUSH
els or more, including ocars side-tracked
awaiting storage room. Fhe last statement
Of stock in store here shows an aggregate of
15,202. 900 bushels, Of which over Is, 900, 900
bushels comprised Contract grades. Last
year at the same date the stock In store here
was only S,A40O0 bushels. What the out
come Of this speculation will be Is ques-
ton impossible to answer Whether the op-
orators at present so ;strenuously upholding
the market will find, II more profitable TO
hold values to the elosapf the month and
force settlements, or Whether they will deem
1t advisable to let thesmarket take its course
the same as they did the May future, Is o
question difficult to solve.n
7H-y-
Maloney VIII Testify.
NEW YORK, June TG-IA connection with